While it is possible to keep fiat "under your pillow" or in a bank, everything is a little more complicated regarding cryptocurrencies. Digital money of this kind is stored in special hardware or software wallets. By wallets, we mean software products or physical devices explicitly made for the storage of public and private access keys to accounts on cryptocurrency exchanges. Many variants of crypto wallets have been designed over the years. Lately, quite popular hardware wallets for the Ledger cryptocurrency have been used by the application Ledger Download.

Wallets by Ledger: Benefits and Features

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According to most experts, the most proper and safest way of storing cryptocurrencies is on a device that is not connected to the internet: a USB stick, an HDD, and the like. As long as this kind of device is "offline," nothing menaces the user's cryptocurrencies.

Among the benefits of wallets and the Ledger mobile application are:

100% security of private keys: they are generated on the device and never leave.

Maximum protection against theft and hacking since the device is not directly connected to the network or PC.

Two-factor authentication: I authorize each of your transactions by my hand on your device.

It offers ideal protection from any external influence, it is resistant to temperature and humidity changes, and it is also not subjected to drilling and disassembly.

These features make the Ledger hardware wallets stable and reliable, no matter the amount of cryptocurrency.

How do I get to start using the Ledger wallet?

The French developer, Ledger, currently has several models of hardware crypto wallets and an official application for Windows, MacOS, Linux, Android, and iOS, which can be downloaded from Ledger Download.

Click here to operate the product

Create an account to personalize your Ledger device using a PIN code.

Attach the wallet to a computer. Download to the computer or mobile device special software.

Add necessary networks and coins (Bitcoin, Ethereum, etc.) to Ledger Live.

Send digital currency to your Ledger from your previous wallets or exchange deposits.

Ensure that you put the device offline and disconnect it from the computer for storage of your digital assets.

Usually, this means the Ledger hardware device is connected to the computer, the operation is confirmed in the application for the next transaction, and the device is disconnected again.

Download Features of Ledger

Supported by a substantial list of features, Ledger Live is an all-in-one app made to manage and secure cryptocurrencies stored in Ledger wallets easily. This is a very essential point. Also, it must be mentioned that all Ledger hardware wallets work only in combination with the proprietary Ledger Live application.

You can solve the following problems via Ledger Live:

track the increase in value of the cryptocurrency portfolio or of the digital currency separately;

You will monitor accounts and have real-time management of them.

send and receive cryptocurrency from third parties;

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Buying and selling of digital currencies;

use the services of the Ledger card (if you have one in your possession);

Update wallet firmware, device setup, and follow-up with some of the remaining memory.

You can always scale Ledger Live functionality and capacities in line with the quality of your work with cryptocurrency through third-party DEX, Binance, and Lido.

To Download and Install the Ledger

Before your Ledger hardware wallet connects for the first time with a computer, you need to download and install the Ledger Live application on your PC. You will find it on the company's website.

WARNING! Do not download Ledger Live from weird or any other suspicious resources. This is likely unsafe because it can lead to hackers gaining access to your personal information and cryptocurrency money.

Once you have downloaded Ledger Live successfully, connect your Ledger device to your PC. The first run of the wallet initiates an invitation to set the PIN code, authenticity check of the gadget, generation of a private key, and report. If you already use Ledger and have an account plus a recovery phrase, you can restore access to your account using this phrase.

Access Ledger Live

Even if you do not have experience with the Ledger Live app, then read this tip — it is available in more than ten languages, including Russian and English. It contains the basics of working with a maker's cold wallet.

Then choose your wallet : Leger Stax, Nano S Plus etc and define it :

Is this the first time you are using a Ledger wallet?

Do you know your recovery phrase?

Choose the first option if you are doing the activation step of your wallet for the first time. Select the second option if you have worked with your Ledger before and have already configured it but want to transfer a recovery phrase to a new Ledger.

Read carefully and thoughtfully these following five training slides. Answer 3 Questions to finish up the wallet setup and exit out of the application launch.

Constructive advice! A significant part of the process is preparing the hardware wallet Ledger, which usually takes about half an hour. It would be a good idea to have a piece of paper with a pen in advance to write down a PIN code and a phrase seed to access the crypto wallet. When everything is ready, click the "You can start" button.

How to Connect Cryptowallet to PC?

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Then, we connect the wallet to the PC via USB with the device's included connector. After we activate Ledger, a message appears, "Welcome to Ledger with your model and Press the right button to continue." After learning the most straightforward navigation and selection options, one starts setting up a wallet. In the generic Setup as a new device menu, the selection buttons are clicked.

Investing in an Individual Identity Code

One of the necessary steps in configuring crypto wallets within Ledger is setting the PIN code. This is ensured through a high level of protection of the hardware device from physical access; an attempt to enter the code three times incorrectly initiates resetting all device settings to default values. If necessary, the PIN can be changed in the future.

Create and save your recovery phrase.

Recovery phrase: 24 words, generated by your Ledger wallet on its own. You will only need to write down this phrase correctly and in the correct order. Be aware that if this phrase is lost, the funds stored in the account on the blockchain will be impossible to access. The developer does not provide restoration.

Validate the genuineness of your Ledger hardware wallet with the Ledger Live app

The last step before completely getting down to work with the Ledger and the Ledger Live application is verifying the authenticity of the crypto wallet. To carry out this operation, ensure the device is connected to the computer. Click the "Check" button. The wallet should write the inscription "Allow Ledger, manager.". A message appears on the screen, which says that the authenticity is verified and you can already start working with the application. It is enough to click the "Continue" button, after which a window with the user agreement will appear, in which you need to accept the conditions, after which the workspace of your computer screen will open to the software of Ledger Live.